14 February 2017 Brand value reaches $1.59bn, up 15% y/y
KUWAIT CITY: National Bank of Kuwait (NBK) was recognized for the 3rd time in a row as the most valuable banking brand in Kuwait in 2017 according to Brand Finance, the renowned brand valuation agency. NBK ranks among the Top Tier of the Most 500 Valuable Banking Brands in the world.
According to Brand Finance, NBK’s Brand value reached $1.59 billion, up 15 percent year-on-year. Also, NBK’s brand rating is ranked AA, among the top in the region.
This recognition reflects customers and shareholders’ trust in NBK as well as the bank’s strong reputation locally and regionally.
David Haigh, Brand Finance CEO, said: “NBK continues to demonstrate strong and consistent growth. For the third year in a row it is Kuwait’s most valuable banking brand with a value of $1.59bn. Brand strength has also improved, reflecting NBK’s commitment to its customers and to reinforcing brand equity. With profits remaining high and revenues growing, 2017 looks bright.” After joining the ‘billion dollar brands club’, NBK has the potential to become one of the world’s top 100 banking brands too. In its home country, NBK is unrivalled. It has overtaken its competitors to become the nation’s premier banking brand.”
Brand Finance’s valuation assesses the dollar value of the reputation, image and intellectual property of the brand. It considers a number of relevant attributes such as financial performance, revenue forecasts, growth rates, brand strength index, sustainability and analysts’ insights, amongst others.
NBK continues to collectively enjoy the highest ratings from the three international rating agencies; Moody’s, Fitch Ratings and Standard and Poor’s. The Bank’s ratings are supported by its high capitalization, prudent lending policies, and its disciplined approach to risk management, in addition to its highly recognized and very stable management team. In 2016, NBK was also named among Global Finance’s list of the 50 safest banks in the world for the eleventh consecutive time.
NBK has the widest banking presence with more than 170 branches worldwide. NBK’s international presence spans many of the world’s leading financial centers including London, Paris, Geneva, New York and Singapore, as well as China (Shanghai). Meanwhile, regional coverage extends to Lebanon, Jordan, Iraq, Egypt, Bahrain, Saudi Arabia, the UAE, and Turkey.
For more information about this ranking and its methodology, please visit the Brand Finance website: http://brandirectory.com/methodology.
© Arab Times 2017